Slide 1: Presentation August 2023 Investor Relations
-Presentation August 2023 Investor Relations
Slide 2: Agenda
Agenda > Introduction > Q2 highlights = AirTech — Data Center Technologies — FoodTech — Customer cases — Appendix
Slide 3: World leader in energy-efficient climate solutions
3 World leader in energy-efficient climate solutions Munters offers climate solutions where controlling indoor humidity, temperature and energy efficiency is Financial figures Q2 2023 “Last twelve months. mission-critical Regional share Q2 Order Intake Net Sales 18% Order Intake per business area Q2
Slide 4: Business critical solutions to a broad range of industries
Business critical solutions to a broad range of industries | ma Dry air for battery Clean Technology solutions production for a healthier planet Climate & hygiene control for the pharmautical for the food production industry industry Leading supplier of Rotors & Service offering to a broad other com
Slide 5: Core technologies — dehumidification and evaporative cooling
Core technologies — dehumidification and evaporative cooling Core Technologies Airlech offering FoodTech offering Evaporative Rotors with desiccant Dehumidifiers Climate systems High-efficiency Air inlets cooling pads drying wheel F fans + Packaged air Chilled Water SyCool Service Controllers Sensor
Slide 6: Creating sustainable value
Creating sustainable value Net sales growth’ 40% 30% 27% 20% 10% Financial target 10% 0% Q2 G3 @4 Ql @2 @3 a4 ai a2 2021 2022 2023 15% 10% 0% Adj. EBITA margin 13.5%| Financial target»14% a2 G3 @4 al a2 @ @4 a 2021 2022 2023 a2 nancial targets OWC/net sales” 15% 13.2% Financial target range 13-10% 1
Slide 7: Our purpose - For customer success and a healthier planet
Our purpose - For customer success and a healthier planet End of June 2023 a Renewable Energy Recycling Scope electricity, efficiency, rate 1&2 factories factories* (LTM) ) 81% (66) 0.50 (0.72) 52% (54) TRIR*™* (LT) 1.5 (1.7) Proportion of Proportion of women in women in mgmt workforce positions * E
Slide 8: Agenda
Agenda => Introduction > Q2 highlights = AirTech — Data Center Technologies — FoodTech — Customer cases — Appendix
Slide 9: Strong results and progress on the strategic journey
Strong results and progress on the strategic journey Solid progress in order intake Strong net sales growth Continued margin improvement sms Order intake — Announced orders" —#= Order backlog MSEK 14000 11,153 6000 12000 7515 10000 4000 Sy 8000 6000 2000 3. i | 427 4.000 2000 0 0 Q2 Q3 Q4 Ql Bo 38 Q
Slide 10: Climate change & digitalization are strong market drivers
Climate change & digitalization are strong market drivers Climate change Digitalization Population growth Higher production demands Current market situation * Geopolitical instability * Macroeconomic uncertainties + Inflationary pressure * Eased supply chain constraints Consequences and opportunitie
Slide 11: Munters focus areas
Munters focus areas ILLUSTRATIVE Direction of positioning - 2023 and beyond . Data Center iTechnologiey Profitability FoodTech Digital alieaey | Data Center echnologies FoodTech Climate SS Light grey indicates the direction communicated in @1 2023 —1/- Growth 4 *Software as a Service Growth Profitab
Slide 12: Aghort industry, US) (C
• • • Rotem Aghort (C industry, US)
Slide 13: Strong net sales growth
Strong net sales growth, 16 Net Sales strong increase; = Strong development DCT & battery in AT = Services 11.5% of total net sales Adj. EBITA margin improved in all business areas Cash flow at low level = OWC increased due to preparations for deliveries of large orders received 2022 Net debt increa
Slide 14: Cash flow
Cash flow Large projects driving build-up in working capital Group Cash Flow YTD, MSEK billion > Higher level of cash-flow from operating activities before changes in working 400 - 331 capital 300 * mainly driven by improved EBIT 200 100 90 > Build-up of working capital 0 = * mainly large projects i
Slide 15: Agenda
Agenda ein => Introduction > Q2 highlights => AirTech — Data Center Technologies — FoodTech — Customer cases — Appendix
Slide 16: Global leader in air treatment for industry
Global leader in air treatment for industry MSEK 2500 2000 1500 1000 50 38 ° Order intake, MSEK* 8,506 726 Q2 G3 G4 Qi Q2 Q3 Q4 QI @2 2021 2022 2023 Financial figures Q2 2023 *LT™ MSEK 2000 1500 1000 500 8 ° Net sales, MSEK* 7,808 2088 Q2 G3 Q4 QI G2 G3 Qs QI QZ 2021 2022 2023 % 20 15 10 Adjusted EB
Slide 17: Q2 - Stable demand and continued strong backlog
Q2 - Stable demand and continued strong backlog P5% Oh ~15% MP 20-1% BH neg % order intake Market Customer segment Q2 2023 Outlook * dustria 53% | ..whereof battery 22% a ..whereof food processing 10% ..whereof commercial 4% ..whereof other 7% e e ologie 7% wa ervice & compone 40% 4 ..whereof servic
Slide 18: Q2 - Strong net sales and margins
Q2 - Strong net sales and margins Change (%) . Q2 a2 |_shengeoo | Order intake & backlog development 2023 2022 6000 MSEK Order intake 1,726 1,727 7 2 4 4000 Order backlog 4124 3,204 2.000 Net sales 2,088 1723 13 2 6 ° il i | | [ 221 Q321 Qazi Ql22 G222 Q322 Q422 Ql23 Q223 Adj. EBITA 346 242 mOrder I
Slide 19: Selection of market players - mainly small local players
Selection of market players - mainly small local players . Small Medium Large Extra Large tee . 7 (<1 BSEK) (1-2 BSEK) (2-10 BSEK) (210 BSEK) Diironent EXGAN Gj coonase je) Fs Pet AM AS AS AM AM/AS/EU AS _ Novet Awe TEctnooces fisair SSRYSOLUTIONS * Cy ra yey Ai AM EU AM bevepeo 5g q AM/AS — Sm 2 ;
Slide 20: AirTech segments
24 Airlech segments ILLUSTRATIVE Direction of positioning for Airlech — 2023 and beyond Focus areas 2023 and beyond Developing service offer in a three-pronged way * 1) Digitalization, 2) increased service share of installed base & 3) M&A Growth opportunities along the value-chain for battery ame, p
Slide 21: Record orders confirm our strong position & offer
Record orders confirm our strong position & offer > - toa multinational automotive manufacturer Total value ~ MUSD 54 (incl. systems & field service) Deliveries: Q3 2023 - Q4 2024 > - our largest battery order ever to a large US car manufacturer: Total value ~MUSD 65 (including Munters climate contr
Slide 22: Agenda
Agenda => Introduction > Q2 highlights = AirTech — Data Center Technologies — FoodTech — Customer cases — Appendix
Slide 23: Sustainable cooling solutions that facilitate digitization
Sustainable cooling solutions that facilitate digitization Order intake, MSEK* 4,796 MSEK 3000 2000 1067 1000 oe | | al a2 O83 a4 al a2 a3 a4 ai ae 21 21 21 22 22 22 22 23 23 Financial figures Q2 2023 *LTM Net sales, MSEK* 2,408 MSEK 1000 878 800 600 400 200 itl Jt a2 a3 a4 ai a2 a3 a4 al a2 21 21 2
Slide 24: Q2 - Good underlying demand & strong order backlog
Q2 - Good underlying demand & strong order backlog P5% Oh ~15% MD s0-1% BW neg + Order Intake increased 14%; % order intake Market : * strong long-term outlook driven by digitization & Customer segment Q2 2023 Outlook energy-efficient cooling solutions - MUSD 88 (MSEK 955) order from US colocation H
Slide 25: Data Center Technologies: Q2 - Strong sales & margin growth
Data Center Technologies Q2 - Strong sales & margin growth Q2 Q2 Order intake & backlog development 2023 | 2022 6000 Order intake 1,067 | 939 10 - 4 2 4000 Order backlog 6,037 3,369 2000 Netsales 878 303 168 - 22 o = am oll | Adj. EBITA 133 18 Q221 Q321 Q421 Ql22 Q222 Q322 Q422 QI23 Q223 Order Intak
Slide 26: Data Center Technologies: Selection of market players
Data Center Technologies Selection of market players - Munters well positioned for growth — An order in DCT generally consists of several equipment deliveries rane , ) re Several Several vi ‘AM/EU EU/AS/AM EU/AS/AM —EU/AS/AM smaller medium . 63 verti, players players systemair EU/AS/AM AM/EU Data Ce
Slide 27: Record orders confirm our strong position & offer
31 Data Center Technologies Record orders confirm our strong position & offer - order received from leading data center colocation operator in US. Total value ~ MUSD 115 (incl. SyCool Split & field service work) Deliveries starting in Q4 2022 through Q1 2024 - multiple orders to a US-based colocatio
Slide 28: Agenda
Agenda ein => Introduction > Q2 highlights = AirTech — Data Center Technologies — FoodTech — Customer cases — Appendix
Slide 29: A world leader in climate control systems for food production
A world leader in climate control systems for food production Order intake, MSEK* 2,216 709 646 600 500 ¥ 2 400 = 300 200 100 ° Q2 Q3 G4 QI G2 G3 a4 al G2 21 21 21 22 22 22 22 23 23 * Financial figures FY 2022 Net sales, MSEK* 2,203 600 583 400 200 | 0 | Q2 Q3 G4 QI G2 G3 a4 Ql G2 21 21 21 22 22 22
Slide 30: FoodTech - a leading dual offering
FoodTech - a leading dual offering Products (examples) Typical customers a AMINO Integrators nS software DIGITAL SOFTWARE SOLUTIONS “ dual — E TRIO Farmers / Dealers offering CONTAGIIERS controller & SENSORS CLIMATE SOLUTIONS SATURN Farmers / Dealers fan EQUIPMENT. two pillars, climate solutions and
Slide 31: Q2 - Increasing demand, mainly in Americas
Q2- Increasing demand, mainly in Americas P58 15% mM s0-7% BW neg % order intake Market > Order Intake increased +17% Customer segment Q2 2023 Outlook * * mainly driven by CS & DS in the US * CS- mixed development, most positive outlooks 93% in Broiler & Greenhouse * DS- strong trend all regions thr
Slide 32: Q2 - Positive margin contribution
Q2 - Positive margin contribution Order intake & backlog development Q2 2023 | G2 2022 1500 Order intake 646 554 Order backlog 992 942 L wed Net sales 583 599 8 - 5 ¥ ooo | | | | | | | | | - of which SaaS 42 28 - SaaS ARR 166 n2 0 Adj. EBITA 58 50 Q221 Q321 Q421 Ql22 G222 G322 Q422 Ql23 Q223 Adj. EB
Slide 33: FoodTech: Selection of market players within Climate Solutions
FoodTech Selection of market players within Climate Solutions “ PE Doicrieion | COREE | YS; Multia Ges” pacs5! EU/AS/AM EU/AS/AM. EU a EU/AS/AM China EU/AS “ ABA GigolA” Aasco Big Herdsman a0 jeuuL| FU/AS/AM AS Gi — AS Middle East AM fancam’ F=1PLASSON r EU/AS/AM “nrg HSi eis @ DOUBLEL Qexafan [cHon
Slide 34: MTech Systems secures important SaaS contract
FoodTech MTech Systems secures important SaaS contract > January 2022 - MTech Systems, within FoodTech, deliver SaaS solution to a major US integrator ° order value of ~MUSD 19 * contributing to improved animal & human health as well as reduced energy consumption Digital Solutions recurring revenues
Slide 35: Agenda
Agenda => Introduction > Q2 highlights = AirTech — Data Center Technologies — FoodTech — Customer cases — Appendix
Slide 36: Appendix
Appendix
Slide 37: Adjusted EBITA-margin
Adjusted EBITA-margin Significant margin improvement in all business areas Main factors affecting adj. EBITA margin in Q2: Q22022 12023 * Strong volume increase driven by DCT & battery Adj. EBITA % 10.4 12.3 ; in AT Volume ++ * on 9 P * Net price increases in all business areas Net pricing ++ + - *
Slide 38: Large projects driving build-up in working capital
Large projects driving build-up in working capital Group Cash Flow YTD, MSEK billion 52 400 331 CF from operating activities before changes in WC CF from changes in WC CF in investing activities 396 CF from financing activities CF for the period > Cash flow Higher level of cash-flow from operating a
Slide 39: Munters Service Offering - with our customers all the way
Munters Service Offering - with our customers a LL the way REVIEW & RENEW * Smooth transition to new product * Decommissioning RETROFIT & UPGRADE Controls Upgrade Rotor Replacement Rotor Energy Recovery Fan Upgrade Remote Assist EC Cool 5S RETIRE & RETROFIT & UPGRADE START-UP & WARRANTY SUSTAIN & MA
Slide 40: Investor Relations contacts
Ann-Sofi Jönsson Line Dovärn Vice President, Head of Investor Director Investor Relations Relations & ERM E-Mail: line.dovarn@munters.com E-mail: ann-sofi.jonsson@munters.com Phone: +46 73 048 84 44 Phone: +46 73 025 10 05